On April 9, according to CoinDesk, Morgan Stanley's Bitcoin spot ETF had active trading on its first day, with over 1.6 million shares traded and approximately $34 million in capital inflows. The fee rate was only 0.14%, the lowest among similar products, focusing on price advantages to compete in the market. In addition to the low fee rate, supported by Morgan Stanley's extensive wealth management network, MSBT is expected to become more attractive as more investors access Bitcoin through financial advisors, although there is uncertainty about whether it can maintain early momentum in a market dominated by a few large participants.